ECN 201 HOMEWOK 1
1. Comparative Advantage and Trade: During the 1928 presidential election campaign, Herbert
Hoover argued that the United States should import only products that could not be produced in
the United States. Do you believe that this would
Chapter 11: Unemployment and Labor Force Participation
v Who is considered unemployed?
o Non institutionalized adults actively seeking a job within the job market (16-99)
v Labor Force
o Percentage of all active workers.